The acquisition of brands will strengthen the agrochemical company’s product portfolio.
Delhi-based Crystal Crop Protection Ltd has acquired insecticide and herbicide brands, including Furadan, Splendour, Metcil and Affinity Force, from US-based diversified chemical company FMC Corporation. The company said that the acquisition of brands will strengthen the agrochemical company’s product portfolio.
Ankur Aggarwal, managing director at Crystal Crop, said, “We are open to more such inorganic growth opportunities”. Last month, Securities and Exchange Board of India (SEBI) gave approval to Crystal Crop to raise Rs 545 crore by issuing fresh shares in the initial public offering (IPO).
Having 5 manufacturing units, Crystal Crop makes and sells agrochemicals, seeds and farm equipment. The company was incorporated in 1994.
This is Crystal Crop’s third acquisition in 2018. The first was chemicals plant from Cytec India Specialty Chemicals & Materials Pvt Ltd, and the second was 3 seed brands from Swiss agribusiness firm Syngenta AG.